In continuation of it’s strategy to grow organically, Medi Assist’s TPA subsidiary (MATPL) has signed a definitive agreement to acquire Paramount Health Services & Insurance TPA (Paramount). Paramount is the 4th largest TPA by total revenues and 2nd largest TPA in Group segment by Premiums in India. The Company in FY24, had a market share … Read more
Consolidation in the Indian cement industry continues. UltraTech (UCL) has announced further stake acquisition in India Cements (ICL). Last month it had acquired 23% stake in ICL from investor Radhakishan Damani for Rs 1885 cr @ an average price of Rs 277/ share Now it is acquiring further 32.7% stake from the promoters of ICL … Read more
Mankind Pharma (MPL) is acquiring 100% of Bharat Serums (BSV) from the private equity major, Advent. BSV has a niche portfolio offering in Women’s Health, encompassing the entire lifecycle – from fertility to post-pregnancy. Deal is agreed at an Enterprise Valuation (EV) of Rs 13,630 cr translating to 28x of FY24 EBITDA. For comparison MPL’s … Read more
Raymond Limited (RL) has announced the vertical demerger of its Real Estate (RE) Business. RE business will be first demerged into its wholly owned subsidiary, Raymond Realty Limited (RRL). Upon completion of this demerger, Raymond Ltd and Raymond Realty Limited (RRL) will operate as separate listed entities within the Raymond Group post all statutory approvals. … Read more
The Company has entered into a definitive agreement with British Consumer Healthcare player Haleon plc and its associate companies (Haleon) to acquire their consumer healthcare brands in the Nicotine Replacement Therapy (NRT) category, outside the United States. The acquisition has been done through Dr. Reddy’s Laboratories SA, Switzerland, a wholly owned subsidiary of the Company. … Read more
Zurich Insurance has completed acquiring 70% stake in Kotak Mahindra General Insurance (KMGI). KMGI was stablished in 2015 as a fully owned subsidiary of Kotak Mahindra Bank (KMB). KMB held 100% equity of the Rs 875-crore paid up capital of KMGI as of March 2024. The deal, which is the largest foreign investment in India’s … Read more
Kewal Kiran Clothing (KKCL) has acquired 50% stake in Kraus Casuals Private Limited (KCPL). KCPL operates the brand ‘KRAUS jeans’. It is in the business of manufacturing, selling, designing and exporting women’s clothing primarily in women, teen and kids casual and denim bottom and top wear. The brand has a presence in 1,000+ large format … Read more
The Board of Directors of Siemens Limited (SL) approved the proposal to demerge it’s Energy Business into a separate legal entity – Siemens Energy India Limited (SEIL), currently a wholly owned subsidiary of SL. SL’s focus will continue to be on Industry, Infrastructure and Mobility. SEIL will provide solutions across the entire energy value chain … Read more
Piramal Enterprises (PEL ) has approved it’s merger with wholly owned subsidiary Piramal Capital & Housing Finance (PCHFL). Post merger the the resultant entity will be renamed as Piramal Finance (PFL). Current businesses of PEL and PCHFL PEL is a non-deposit taking Non-Banking Finance Company – Investment and Credit Company (NBFC- ICC), engaged in the … Read more